City of Morgan Hill Economic Blueprint.docx

City of Morgan Hill

ECONOMIC BLUEPRINT

TABLE OF CONTENTS

Page

1. Acknowledgments …… . ……………………………………………….. 3

2. Executive Summary …… . …………………………………….………… 4

3. Introduction …… . ……………………………………………………… .6 a. Purpose of Economic Blueprint …………………………...…… 6 b. Context …………………………...……………………………. 7 c. General Plan 2035 ……………………...……………………… 9 d. Economic Development Approach ……………….……...…… 11 e. Community Engagement ……………………...……………… 12 4. Economic Profile ……………………...……………………………….. 14 a. The General Fund ……………………...……………………… 14 b. Employment ……………………...…………………………… 17 c. Demographics and Labor Force ……………………...……….. 21 d. Jobs/Housing Ratio ……………………...……………………. 22 e. Employment Lands ……………………...……………………. 24 f. Real Estate Market Conditions ……………………...………... 28 g. Tourism ……………………...………………………………... 29 h. Retail Trends ……………………...…………………………... 32 i. Downtown Morgan Hill ……………………....………………. 35 5. Economic Blueprint Goals ……………………...……………………… 37 a. Innovation and Advanced Manufacturing …...……………….. 39 b. Retail ……………………...………………………….............. 44 c. Tourism ……………………...………………………….......… 47 d. Healthcare …………………...………………………...…....... 50 6. Conclusion …………………...…………………………...................... 52

7. Economic Indicators …………………...…………………………........ 53

8. Strategies & Actions …………………...…………………………........ 54

9. Appendix A: Stakeholder Questions …………………...……………… 58

10. Appendix B: Links to Relevant Documents …………………...……….. 59

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